TD Asset Management Inc. Increases Position in Iron Mountain Incorporated (NYSE:IRM)

TD Asset Management Inc. increased its position in Iron Mountain Incorporated (NYSE:IRM) by 125.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,952,432 shares of the financial services provider’s stock after buying an additional 1,086,308 shares during the period. TD Asset Management Inc.’s holdings in Iron Mountain were worth $205,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Key Financial Inc raised its stake in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain during the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. purchased a new position in Iron Mountain during the 4th quarter worth approximately $26,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain during the 3rd quarter valued at approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,131 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,979 shares of company stock worth $30,666,904. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays decreased their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company cut their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and an average target price of $125.67.

Iron Mountain Trading Down 2.5 %

Shares of IRM opened at $87.84 on Wednesday. The firm has a market cap of $25.80 billion, a P/E ratio of 144.00, a PEG ratio of 5.15 and a beta of 1.04. The stock’s 50 day moving average is $96.32 and its two-hundred day moving average is $108.88. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the previous year, the firm posted $0.52 EPS. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 514.75%.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.